Lowe's Names Brown Chief Information Officer

Executive Replaces Steven M. Stone

MOORESVILLE, N.C.--(BUSINESS WIRE)-- Lowe's Companies, Inc. (NYSE: LOW) announced today the appointment of Michael K. Brown to executive vice president and chief information officer (CIO). He replaces Steven M. Stone, who is leaving the company to pursue other interests.

Brown has served as executive vice president, store operations and lowes.com since 2006. The veteran executive joined Lowe's in 1984 and previously served as senior vice president of store operations for Lowe's South Central and West Divisions, regional vice president of the company's Northeast Division, merchandising vice president and vice president of specialty sales (commercial business, special order and installed sales initiatives).

He will report to Chairman and CEO Robert A. Niblock.

"The importance of new and enhanced technology is accelerating in every facet of our business and is essential to the way we interact with our customers today and into the future," said Niblock. "Mike has a deep understanding of our customers, operations and the strategic initiatives that will propel our future growth. This background has prepared him well to assume this important new assignment.

"We thank Steve for his hard work and many contributions to Lowe's over the years and wish him much success in the future," added Niblock.

With fiscal year 2009 sales of $47.2 billion, Lowe's Companies, Inc. is a FORTUNE(R) 50 company that serves approximately 15 million customers a week at more than 1,725 home improvement stores in the United States, Canada and Mexico. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.

    Source: Lowe's Companies, Inc.